AZ expands Chinese presence

AstraZeneca has announced plans to create a new Global R&D Centre and an AI Innovation Centre in China, and a unique Healthcare Industrial Fund with China International Capital Corporation Limited (CICC). The new R&D Centre will be in the Jing’an district of central Shanghai and will carry out R&D for potential new innovative medicines, concentrating on diseases predominantly found in China and the wider Asian community. Shanghai will also be home to the new AI Innovation Centre which will focus on collaboration with technology companies to develop innovative solutions for patients, and acceleration of medicines delivery around the world.
The Healthcare Industrial Fund will look to promote innovation in China’s healthcare system by supporting international companies looking for a foothold in China, and domestic companies and partners including those based in the Wuxi International Life Science Innovation Campus. AZ’s Executive Vice President, Asia Pacific, Leon Wang, said: “The new fund will inject vitality into the small and medium-sized healthcare innovation enterprises with promising development prospects, so that they can achieve substantial growth in China. With this new commitment, AstraZeneca will further increase its contribution to the development of healthcare in China, and to exporting domestic innovations that benefit patients worldwide.”
Pascal Soriot, AZ’s CEO, said: “China is rapidly emerging as a global scientific powerhouse, which is why we have taken this exciting decision to follow the science, by expanding our R&D presence and by working with the investment community. We will make the most of our global resources and network to strengthen the connections between China and the rest of the world in the field of healthcare innovation and, ultimately, bring the benefits of that work to patients everywhere.”